MISY 5325 QUESTIONS AND ANSWERS

True or False: According to the Priority Rule in Excel, the Addition and Subtraction will be executed before the Division and Multiplication. - ️️False Steps to move the chart to the new worksheet - ️️under the Design tab click the Move Chart icon the Move Chart dialog-box will pop up Select the New Sheet How can you adjust the width of the column to the width of the largest item in the column - ️️double click on column border The fill handle is used to - ️️copy and paste data True or False: The fill handle is the least efficient way to copy and paste a formula from one cell to a range of cells - ️️False It is the most efficient way True or False: Merge and Center function must be performed one row at a time. - ️️True True or False: In order to select the range that is not a continuous range, you must use the control key - ️️True fill handle - ️️The small black square in the lower right corner of a selected cell True or False: If you move a chart correctly you will see the cell background behind the chart. - ️️False True or False: All formulas in Excel start with a equal sign - ️️True True or False: Any calculation placed inside the parenthesis will be executed first - ️️True Instead of typing the cell reference you can use what method - ️️clinking methodIf you copy a cell containing a formula and paste the formula into another cell, the formula will be changed accordingly, depending on how many rows or columns you have moved. This is called - ️️relative reference True or False: Format Painter button will copy the data (not the format) to another cell. - ️️False True or False: The Common Button will format will format all numbers with two decimal places and have a 1000 comma separator - ️️True With this function, the format of the cells will be changed automatically when the data in such cells meet the condition. - ️️conditional formatting To display the worksheet with formulas, press - ️️CTRL + ` True or False: A System Date formula will display the current date and time every time we open the work sheet - ️️True What is the System Date formula? - ️️=NOW() What type of cell references are the following? 1. $A$1 2. A1 3. A$1 4. $A1 - ️️1. Absolute reference 2. Relative cell reference 3. Mixed reference 4. Mixed reference What is the IF function syntax? - ️️=if(logic test, value 1 is test is true, value 2 if the test is false) True or False: A argument in the IF function can be numeric, text, or cell reference. - ️️True True or False: The IF function can contain an inner loop - ️️True Give example of inner loop in IF function. - ️️=if(A1>=90, "A", if(A1>=80, "B", if(A1>=70, "C", if(A1>=60, "D", "F")))) True or False: You can press F5 to make a cell reference absolute - ️️FalseTrue or False: The result of adding margin and cost of goods sold is always equal to 100%. - ️️True Gross margin - ️️the profit made directly from selling products before subtracting all expenses True or False: With accounting format the zero will be displayed - ️️False a hyphen will be displayed What is the most important concept in plotting a chart? - ️️knowing what areas need to be highlighted True or False: When splitting a window into panes, you can create up to 4 panes - ️️True True or False: To freeze pane, the cursor needs to be placed on row or column of the area you wish to freeze. - ️️False The cursor need to be one column or row after the area you wish to freeze Using Excel to scrutinize the impact of changing values in cells that are referenced by a formula in another cell is called - ️️What-if analysis What-if analysis is also called - ️️Sensitivity analysis Where can you check to see if you correctly change the name of your cell to be something other than, for example, A1 - ️️the name box True or False: When naming a cell it can contain spaces - ️️False It can not contain spaces True or False: When the name is used in the formula, instead of the cell reference, that formula will automatically become a mixed reference. - ️️False it will become an absolute reference Calculates the payment for a loan based on the loan amount, constant payments, and constant interest rate - ️️PMT function PMT syntax - ️️=-pmt(interest rate, number of periods, loan amount)True or False: The PMT function will return the result with a positive number - ️️False a negative number, so we must put a - in front of the formula Future Value and Present Value syntax - ️️=-FV(interest rate, number of periods, PMT) =-PR(interest rate, number of periods, PMT) True or False: The FV function will return the result with a negative number - ️️True True or False: If you create your Amortization Schedule correctly you will see 0 at the last ending balance - ️️True True or False: When creating a table in Excel you can create more than one table per worksheet. - ️️False only one table per worksheet To format a table range what do you select - ️️the headers and one row after True or False: When the create table box pops up you need to leave the "my table has headers" unchecked. - ️️False you need to make sure it is selected True or False: Data Validation allows you to input custom categories to prevent error on users part - ️️True What do you select to begin to set the Data Validation tool? - ️️select one cell that has data and one empty cell below, so that the rule will be applied downward True or False: When entering data validation source box it is not case sensitive. - ️️False it is case sensitive True or False: in Table format table must be selected to add total row - ️️True True or False: The range in VLOOKUP needs to be absolute - ️️True True or False: You will not see drop down boxes if a table is present - ️️False You will see drop down boxesWhat is the Advanced Filter used for in the table - ️️to permanently retrieve data to place it somewhere else True or False: An argument in text in the IF function, does not need to be placed within quotation marks. - ️️False True or False: When you enter a formula in the top cell of a table, after pressing enter it will automatically derived up to the last row of the table, using the same formula, which will save time. - ️️True